How can we harness the power of science to make big, positive changes in society? If innovation and progress in science and technology is crucial to boosting productivity, raising the standard of living, tackling future global challenges like climate change, and staying competitive internationally, then ensuring proper funding is available for these advances is crucial.
Matt Hourihan, director of the R&D Budget and Policy Program for the American Association for the Advancement of Science, joins host James Pethokoukis on AEI’s Political Economy podcast to discuss the funding situation in the American context.
Hourihan is optimistic that international competitiveness will continue to spur the United States to invest appropriately in research and development over the next decade.
“China is not going away, and the gains in investment we’ve seen in other countries, in Korea and so on, none of that is going away. As a result I think the interest will be there. What actually happens is anyone’s guess. The difficult part for Congress is walking the line between making aggressive robust investments, while also trying to be fiscally responsible…This recognition that R&D is important, though,I do not think that it is a transient thing,” he says.
Where does Canada fit with these trends? What is our country doing to stave off issues of stagnation and subpar growth and to stay internationally competitive?
Not enough, if current trends continue. Canada is the only country in the G7 where R&D as a percentage of GDP has been on the decline over the past 10 years.
